May hotel rates were up year over year across all global
regions except the Middle East and Africa, according to STR Global, although
occupancy in Europe declined during the month.
Rates in the Americas were up 3.1 percent, and occupancy
increased 3.4 percent to 63.4 percent. Among the top rate increases in the
region were Boston (8.9 percent) and San Francisco (5.8 percent), while the
biggest drops were in Montreal (-9.6 percent) and Vancouver (-9.3 percent).
In Europe, rates in May were up 3.8 percent year over year
in terms of euros but down 9.6 percent in U.S. dollars. Occupancy decreased by
1 percent to 70.5 percent, partially due to more public holidays occurring
during the month than in May 2011, according to STR Global managing director
Elizabeth Randall. Several cities had significant rate increases in terms of
euros during May: Tel Aviv (21.8 percent); Tallinn, Estonia (19.2 percent);
Helsinki (18 percent); and Reykjavik, Iceland (17.2 percent).
Rates in the Asia/Pacific region increased by 1 percent in
U.S. dollars, and occupancy increased by 2.3 percent to 65.5 percent. Rates and
occupancy were up across most of the Asian markets, though markets in India are
"under pressure as [they] cope with increasing supply and slowing local
economic conditions,"
according to Randall. The largest rate increases, in local
currency terms, were in Jakarta, Indonesia (20.4 percent), and Tokyo (19.2
percent), and the largest decreases were in Delhi (-10.8 percent) and Hanoi,
Vietnam (-10.1 percent).
Occupancy in the Middle East and Africa, still rebounding
from last year's Arab Spring, was up 13.3 percent to 60.4 percent, though rates
in U.S. dollars were down 1.6 percent. Rates in Amman, Jordan, were up 21. 5
percent, the largest increase for the region. The largest decreases were in
Cape Town, South Africa (-16.9 percent), and Cairo (-12.4 percent).
May hotel rates were up year over year across all global
regions except the Middle East and Africa, according to STR Global, although
occupancy in Europe declined during the month.
Rates in the Americas were up 3.1 percent, and occupancy
increased 3.4 percent to 63.4 percent. Among the top rate increases in the
region were Boston (8.9 percent) and San Francisco (5.8 percent), while the
biggest drops were in Montreal (-9.6 percent) and Vancouver (-9.3 percent).
In Europe, rates in May were up 3.8 percent year over year
in terms of euros but down 9.6 percent in U.S. dollars. Occupancy decreased by
1 percent to 70.5 percent, partially due to more public holidays occurring
during the month than in May 2011, according to STR Global managing director
Elizabeth Randall. Several cities had significant rate increases in terms of
euros during May: Tel Aviv (21.8 percent); Tallinn, Estonia (19.2 percent);
Helsinki (18 percent); and Reykjavik, Iceland (17.2 percent).
Rates in the Asia/Pacific region increased by 1 percent in
U.S. dollars, and occupancy increased by 2.3 percent to 65.5 percent. Rates and
occupancy were up across most of the Asian markets, though markets in India are
"under pressure as [they] cope with increasing supply and slowing local
economic conditions,"
according to Randall. The largest rate increases, in local
currency terms, were in Jakarta, Indonesia (20.4 percent), and Tokyo (19.2
percent), and the largest decreases were in Delhi (-10.8 percent) and Hanoi,
Vietnam (-10.1 percent).
Occupancy in the Middle East and Africa, still rebounding
from last year's Arab Spring, was up 13.3 percent to 60.4 percent, though rates
in U.S. dollars were down 1.6 percent. Rates in Amman, Jordan, were up 21.5
percent, the largest increase for the region. The largest decreases were in
Cape Town, South Africa (-16.9 percent), and Cairo (-12.4 percent).